Third-Party Data and How it Benefits Marketers

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Data is a part of our daily lives. It is collected from a variety of sources. It's is collected when you search the web on your desktop, or on your mobile phone; when you make a purchase online or at a store. It's also collected when you share your personal information via email, chat, or the old-school way with pen and paper.

Marketers use the information collected to understand the best way to reach potential customers, including how to craft messaging that will resonate with them and the channels they frequent most often. 

Marketers need data to improve marketing efforts and create compelling campaigns. Many marketers, publishers, and agencies lack the first-party data required to complete customer and prospect insight-controlled campaigns. Third-party data can help marketers, like you, meet your marketing objectives. It’s important to know what kind of third-party data you should obtain, and if the quality of the data is reliable and up-to-date.

People expect personalization when they are being contacted. How can you personalize a message without the right customer data set?

Without the right insight, your digital marketing efforts are probably falling flat and you’re failing to build a relationship with consumers.

Data can help you target and segment your audiences according to what matters to them. Personalized messages like these perform better and elicit responses. Let's dig into how data can help.

What are the Different Types of Data?

Before we dig deep into third-party data, let’s discuss what consists of 1st party data  and  2nd party data:

What is First-Party Data?

First-party data is the information you gather and collect yourself.  From trade shows, online forms, email newsletter subscriptions, and more. This means that you are the source and you own this data. First-party data is the most valuable and highest quality available. Of course, it would be. You collected it.

What is Second-Party Data?

Second-party data is considered someone else's, or another organization's first-party data. You received this data from the owner of the data, so you do not have any questions about where the data is coming from. Second-party data is the next best set of information you can get other than the first party.

What is Third-Party Data? 

Third-party data covers a much broader scope than other data types. It is information purchased in bulk. Most often, you will buy from a data aggregator or provider. The provider doesn’t have a direct relationship with the customer to collect personal information. Third-party data providers are common worldwide. You can use third-party data to reach new, updated target audiences and to better understand your customers, their interests, the channels they frequent, etc.

How is Third-Party Data Collected and Who Uses It?

A data management platform, otherwise know as DMPs or data providers, collects data.  DMPs build third-party audience segments that organizations can buy for marketing campaigns, using for things like target ads, OTT, and data enrichment.

This data can include things like:

  • First and Last Name
  • Address
  • Phone Number
  • Postal Address
  • Email Address
  • Purchase history
  • Web browsing activity
  • Social Media Handles

Benefits of Third-Party Data?

With third-party data, you can fill in the missing pieces of existing data files or build brand new audiences. It can help you create new segments for improved audience targeting purposes. It will empower your business to look above and beyond your basic audience data.

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How can Marketers use 3rd Party Data?

  1. Fill in the Gaps of Your First-Party Data

There is no doubt that the data you collect yourself is the most important, but your first-party data has so much more potential. With third-party data, you have the ability to learn more about your customers. For example, a reverse email append. A reverse email append service offers you the opportunity to use existing email addresses to identify other pieces of information tied to the individual to whom the email address belongs. A reverse append will give you data points like full name, address, gender, credit score, and more.

    2. Get Personal with Your Audience

You have the opportunity to broaden your audience with third-party data. Your first-party data cannot stand alone. To uncover things like your prospect or customer interests, leverage third-party data to fill in the blanks.

    3. Discover new audiences

Broaden your audience and grow your business. When you take advantage of third-party data you will also be able to expand your reach and your business.

Why use Webbula’s Third-Party Data?

Is your customer data like a puzzle with missing pieces? No worries, Webbula’s Data Append solution is the industry-leading service that includes more than 87% of all Americans constantly updated, clean, and vetted with email hygiene, and pulled from over 100+ data sources.

What does that mean? It's great news for email marketers who can use it to refresh or expand upon existing audiences with gender, address, demographic, interest/lifestyle data, and more.

You can also take a deeper look into each category to build an audience that goes beyond demographics and deliver relevant messaging based on actual interests, hobbies, online behaviors, donations, politics, income, education, and much more.

With Webbula Data Enhancement, you will gain insight into your customers’ interests and cross-channel behaviors to execute targeted and highly effective marketing campaigns.

With over 330 million email addresses, 200+ million Mobile IDs, 216 million individuals, 245 interest categories, 85 million automotive records, and more - Webbula Data Appends will bring your campaign to life. Learn more about third-party data in our whitepaper resources

Contact a data solutions expert today to get started.

 

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